MCDEBCO reports about $1M in small-business financing, incubator occupancy rising to 86%

A representative of MCDEBCO updated the committees on small-business programs administered in partnership with local government and philanthropic partners. The group said it will likely finish the year having financed about $1,000,000 in loans, including microloans in the $15,000–$30,000 range, and reported that its Wausau business incubator occupancy increased from 61% at takeover to an expected 86% by year end.

MCDEBCO also described a low-interest, long-term loan product for private onsite wastewater treatment replacements and the GEAR certificate program for entrepreneurs; staff said about 30% of program participants launch businesses shortly after completing the class.

Committee members had no questions and thanked the presenter for the update.